Hancock Whitney Corp lifted its position in BlackRock, Inc. (NYSE:BLK) by 9.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,104 shares of the asset manager’s stock after purchasing an additional 358 shares during the quarter. Hancock Whitney Corp’s holdings in BlackRock were worth $1,754,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. WESPAC Advisors SoCal LLC bought a new stake in shares of BlackRock in the fourth quarter worth about $25,000. Hanson McClain Inc. increased its holdings in shares of BlackRock by 425.0% in the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after purchasing an additional 51 shares during the last quarter. Ellis Investment Partners LLC bought a new stake in shares of BlackRock in the first quarter worth about $26,000. Valley National Advisers Inc. increased its holdings in shares of BlackRock by 81.8% in the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after purchasing an additional 27 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. increased its holdings in shares of BlackRock by 658.3% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 91 shares of the asset manager’s stock worth $36,000 after purchasing an additional 79 shares during the last quarter. 81.36% of the stock is currently owned by hedge funds and other institutional investors.
BLK has been the subject of several recent research reports. Wells Fargo & Co lifted their price target on BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research report on Wednesday, April 17th. Barclays lifted their price target on BlackRock from $490.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Morgan Stanley lifted their price target on BlackRock from $536.00 to $545.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Citigroup lifted their price target on BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Deutsche Bank lifted their price target on BlackRock from $428.00 to $431.00 and gave the stock a “hold” rating in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $509.38.
Shares of NYSE:BLK traded up $1.43 during trading hours on Thursday, hitting $447.68. 86,408 shares of the company’s stock traded hands, compared to its average volume of 455,801. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $547.52. The firm has a market capitalization of $68.47 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.60 and a beta of 1.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49.
BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.13 by $0.48. BlackRock had a return on equity of 13.46% and a net margin of 30.58%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the previous year, the business earned $6.48 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. will post 27.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a dividend of $3.30 per share. The ex-dividend date is Wednesday, June 5th. This represents a $13.20 annualized dividend and a dividend yield of 2.95%. BlackRock’s dividend payout ratio (DPR) is presently 49.02%.
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BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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